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Alta Copper Corp T.ATCU

Alternate Symbol(s):  ATCUF

Alta Copper Corp. is a Canada-based copper developer, which is engaged in the acquisition, exploration and development of mineral rights interests. The Company is focused on the development of its 100% owned Canariaco advanced staged copper project. The Canariaco Copper Project is an advanced stage porphyry copper exploration and development project located in Northern Peru. Canariaco comprises about 97 square kilometers of highly prospective land located about 102 kilometers (km) northeast of the City of Chiclayo, Peru, which includes the advanced stage Canariaco Norte deposit, Canariaco Sur deposit and Quebrada Verde prospect, all within a four km NE-SW trend in northern Peru’s mining district. The Company also holds other earlier stage base metal properties located in Peru and Canada. Its other projects include Don Gregorio property, Arikepay Copper-Gold Porphyry Discovery, and Canyon Creek property. Don Gregorio property is a copper-gold porphyry target located in northern Peru.


TSX:ATCU - Post by User

Post by MisterMarketon Nov 13, 2024 6:14pm
100 Views
Post# 36311326

South32 buys 19.9% of American Eagle

South32 buys 19.9% of American EagleNo, I am not posting on the wrong board.  South32 Ltd hsa bought into American Eagle's NAK project at a $0.15 premium giving it a 19.9% interest in the company despite Teck Corp having a 19.9% interest (33.32 mil shs @ $0.875 for $29.16 M).  Teck can match this in whole or part maintaining its 19.9% interest or not.

Fortesque's 34.17% ownership of Alta can be reduced and is an inviting prospect for another mining company wanting a stake in a company whose NPV8 at $4.50 lb copper is US$3.2B ($4.46B Cdn).  A large number of shares will have to be issued to obtain money for the drill program.  Management says at least $10 million will be needed to start.

The most interested party to invest a large sum of money like this would be another mining company wanting a 19.9% stake or an eventual !00%.  28 million shares could be issued at a premium price of $1.00 giving the intertested party the 19.9%.  Fortesque could match or partly match this buyin giving Alta up to $56 million for future work.  If the company was a well experienced copper miner (in the Andes) Fortesque could be willing to JV Canariaco with them reducing operating risk.

Trading in Alta shares is eeringly quiet.  Shares trade at a depressed level.  It may be a good time for someone BIG to buyin.


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